>> i'm with him. florida/wisconsin and wisconsin takes it. >> big-time. >> josh, final trade. >> sell grubb hub. >> buy mu. >> superior energy. spm. i bought it. >> jon won the debate. congratulations. have a great weekend. "halftime" is over. "power lunch" and the second half of the trading day start right now. >> indeed it does. welcome to "power lunch." big names at the nasdaq really deteriorating today. facebook, netflix, amazon, google, all taking a beating, as you can see. look at the shares of facebook, down better than 2%. a 4% loss on the nasdaq -- 2% loss on the nasdaq, 4% loss on facebook there and netflix as well. tyler is out today. simon is my partner at the nyse this afternoon. it's a big day for it, simon. >> it is and it's getting more serious as we move through. we start with the market alert. indeed, the nasdaq, the triple

qs which track are in negative territory. the big weight, one of the big weights is netflix. down 25% in the past month. it's one of those stocks that move on no news, they move because they move. today investors are paying a price. sheila dharmarajan is at the nasdaq and is down -- the composite is down 3.2%. sheila? >> ugly day here at the nasdaq. the composite and the 100 down by more than 2%. we just bounced off the session lows but keep in mind we are on track for one of the worst days we have seen at the nasdaq in two months. here's what's amazing. this is a really broad-based selloff, not just biotechs or momentum names. it is weakness across the board here. if you take a look at the nasdaq 100, more than 90% of its members are in the red right now. so everyone is pushing the sell button on seemingly everything. some particular pockets of weakness, though, got to talk about the biotech names. this is one of the groups that led the nasdaq up. now today, the nasdaq biotech

index is down by more than 4%. even large cap bioteches which a lot of people said had strong valuations are down like gilead, amgen. take a look at all of them. they are all getting hit hard. momentum names, you were talking about that. remember, these are stocks that really move consistently in one direction or the other, not necessarily based on fundamentals or news flow but really just the movement of the market. that trade is turning deeply negative today. a lot of these stocks getting hit hard. priceline, netflix, tesla, all names we have talked about a lot, they are all reversing those gains that we have seen throughout the past year. but i don't want to underestimate what the large cap tech names are doing. remember, these names have the biggest influence on the nasdaq and they are also getting hit hard. google, amazon and apple, for example, they are all now in negative territory for the year. simon, amazon officially in bear market territory for the year. you cannot underestimate the weakness these large cap tech names are having here. >> yep. i think they call it profit taking. let's have a look at where we are on the fear index.

the vix. check out where we're trading, that's moving, if you lived through the financial crisis, that's not scary but certainly higher than it was as people seek protection down the line. that is where we are on the etf that follows the vix the closest. then have a look where we are on gold. you see 1305. let's get a market flash with dominic chu. >> it's not just gold. where else are they putting their money? how about the utilities stocks, the defensive sector. the sector is the best performer on the s&p 500 today. having its best day since march 12th. you can see they are up about a percent or so. among the individual stocks in this sector, check out names like aes, exelon, pse & g, pg & e. you get a lot of gs in there because it's gas and electric. utility stocks are big dividend payers and good safe haven investments for investors when stocks appear like they are selling off. that's what traders sense about what's happening in the markets.

they want to look more towards the less economically sensitive names. back to you. >> fascinating. thank you very much for that. let's bring in bob pisani. i don't see this as scary. i see it as a classic rotation. >> i'm not that happy, though. we had good non-farm payroll numbers. revisions were good. the economy is getting better. yet we are selling into that decline. look at the s&p 500. we started on the plus side. that's essentially straight down after about 10:00 eastern time. sheila mentioned the biotech. the biotech index, the main etf, is now negative for the year. this was the market leader. when you see your main market leader go negative for the year, that gets passed around on the technicians' trading desk. it's a big point of discussion today. we have other market leaders that are weak. we have been telling you about discount brokers, weak two days in a row. there have been questions about how long their payment for order flow might continue. they are down again today. then we have the eem going in

the opposite direction. remember, emerging markets, the story was sell them in january. this is now up 11 of the last 12 days. we have essentially a new high for the year in emerging markets. then the other market leader, airlines. this has been a big one this year, along with the biotech, all selling off today. we have some, you were right, rotation going on but for the overall market to be down like this on a positive non-farm payroll bothers me a little bit. don't yell at the stock market. an old saying of mine. let me yell at it for a minute. >> except the tax deadline is in two weeks' time. if you're in the market and owe money, you have to raise some cash, you are going to sell the stocks that have done really well to raise cash to pay the irs. >> impossible to quantify that but i agree, this often happens this time of year. >> thank you. i know we're coming back to you. sue? >> thank you, gentlemen. so will the u.s. continue to lead the global bull market this year? not so fast says economist jim o'neill. >> if we're going to have a

global bull market this year, it's going to be led by something other than the u.s. it's possible but i'm not so sure about the u.s. sustaining leadership. >> so is mr. o'neill right? if you think he is, how do you play it? jeff and jim are in chicago. good to see you, guys. jim, is he right, do you think? >> no, i actually don't think he's right. i think the prospects for a longer term bull market in the u.s. are fine. today, by the way, worries me for the shorter term. on top of what bob pisani said, bob said it was a good economic number. not only was it a good economic number, it was really arguably the perfect number for the stock market being that it was relatively good and wage growth was low, meaning that the fed doesn't have to step out of the way any quicker than they had already planned. this is a perfect number for the stock market. the fact it's getting the heck beat out of it means there are other factors at work right now. in the short term, i'm a little bit worried. if the weekly bar chart closed lower today, i would be more worried and so far, it hasn't done that. i'm still a little worried. >> jeff, what about you?

how do you play this market right now? >> well, we have talked about this. the treasury market in chicago, the pits have provided leadership for a long time. we are seeing a move down in the nasdaq, momentum stocks, but the treasury market, look at yesterday. we couldn't break out of that range, that top end of the yield. we got rejected again so therefore, we are seeing a little bit of caution here. i like owning gold, $20 pop in gold but volatility is very cheap. remember, there is no panic really going on because the volatility is well under 200 day moving average. >> i think there are some things that look interesting today. health care, particularly johnson & johnson. the story behind that is -- it's risky but not that risky. it's kind of the momo names in the nasdaq -- >> keep an eye on momentum. >> that's it, i guess. >> thanks, guys. have a good weekend.

appreciate it very much. by now, you know the headline number, 192,000 jobs created in march. but where were those jobs created? where were they lost? senior economics reporter steve liesman is here. i can see from your sheet that you have an awful lot of statistics. >> you have your pen there? start taking notes. i got a lot of data for you. this may help. if you're looking for work, we will tell you where the jobs are and where they're not. first i want to focus on manufacturing. i want to take a look. manufacturing actually lost jobs in the past report. let's take a bigger step back and take a look at the one month change down 1,000. one year change up 72,000. since the recession we have added 353,000 jobs. that comes with different experiences. there were gains in auto manufacturing, fabricated metals and food manufacturing, losses in some of the high tech areas, computers, semiconductors, communications equipment. let's take a step back and look at where the jobs have been in the past year.

where we going first? where the jobs are or where they aren't? we don't have the graphic. >> just tell me. >> information and government, media, no good. newspapers, no good. nondurable goods, not good. where the jobs were the past year, temporary help services which can be a good sign but if it persists for awhile, it's not. which one is that? where the jobs are. mining and logging, as you know. the oil industry has done very well. professional business services, inside that, accounting. leisure, hospitality and construction has done pretty well, particularly residential construction. i don't know what we have next. let's do one more since we may be out of time. this is the bottom five. same ones. government information, utilities and one more, where the jobs have been since the recession. same ones there. leisure/hospitality has been doing well. >> that's a good sign. if they are hiring in leisure and hospitality, that's a good sign. >> you have to think there's a little expendable money out there from folks. i suppose those are folks like

the disney parks. that's where you might want to focus your job search. i intend to do so as soon as this tv thing stops working out. >> i'm sure you will have lots of offers. trust me. simon, down to you. >> so from what steve is saying, it's pretty clear that manufacturing in this country is now a leading factor in job growth. what does it mean for the middle class and the country overall? a difference of opinion and an interesting one now between alan tunnelson at the u.s. business and industry council and mark calabria, who joins us from the cato institute. let me kick off with you, alan. what is your take on the state of manufacturing? >> there are some very big problems with u.s. manufacturing, not only concerning manufacturing jobs which are obviously important because people who hold manufacturing jobs and have held manufacturing jobs, vote, but there's a big problem with manufacturing production also. if you don't have robust levels of manufacturing production, you will never get acceptable levels

of manufacturing employment and we have not had strong levels of manufacturing production growth since the first half of this economic recovery ended. we had a deep dive during the recession, we had a nice snap back during the first half of the economic recovery but all of that momentum is basically gone. >> mark, you have a very interesting observation here that challenges that. how would you sum up where we are? >> first let's characterize separate manufacturing out from manufacturing jobs. before the recession, 2008, we were producing more than we ever had. we just did it with a lot less people. obviously we were in a recession, saw a decline in the number of sectors like auto. we have seen auto sales, for instance, a lot of manufacturing come back but the jobs have not as much come back in those sectors except for the ones that were cyclical. i think that's one reason why we see a difference between autos and say computer manufacturing, where the long term trends are really in increasing productivity where i think we will continue to make more but

will continue to do it with less people. i do think you need to separate out the trend issues, really, from the cyclical issues here. i don't think we are going to see, even if you see a really big increase in manufacturing output, i think the fact is you will continue to see a substitution of capital for labor and part of that is driven by monetary policy which makes capital more attractive than labor but i think manufacturing overall is strong. the real question is the labor market in terms of manufacturing is separated from overall manufacturing. >> it's a very important point. where does that leave the middle class? we have lost, what, 2.3 million manufacturing jobs in ten years? >> there is no way that manufacturing will ever get back to its previous historic levels all u.s. employment but we have to remember that u.s. economic history has frequently featured very impressive periods of productivity growth, of technological advance and yet manufacturing employment kept growing. so i don't think that you can point to technology and

productivity gains as the major villain in this manufacturing jobs decline story. i think you have to look at the fact that manufacturing production has been pretty unimpressive again since the first half of this economic recovery came and went. and by the way, regarding mark's point about record manufacturing production before this last recession started, the entire economy was in a big bubble so of course, manufacturing production was artificially increased. >> it would be great to continue but we have to leave it there due to time. great to talk to you both. thank you. have a good weekend. let's get a market flash with the dow down 66. >> so another group that's bucking the downward trend today are coal stocks. the "wall street journal" is reporting that bhp's executive in charge of the coal division said he expects world demand for coal to increase for decades to come. in addition, cowan and company upgraded peabody to an y

outperform from market perform, seeing little downside to coal prices, providing a bump for the entire market. sue? free markets, fair markets. attorney general eric holder confirming the justice department is investigating high speed trading. eamon javers is in washington, d.c. with the latest developments on a big story this week. >> reporter: yeah, that's absolutely right. the big story is getting some attention now here in washington. this time it's the attorney general, eric holder, testifying on capitol hill today, confirming what we knew earlier in the week. we heard the fbi was investigating this situation. now we know it's reaching the very top of the department of justice, eric holder on capitol hill today. take a listen. >> this practice which consists of financial brokers and trading firms using advanced computer algorithms and ultra high speed data networks to execute trades has rightly received scrutiny from regulators. i can confirm that we at the united states department of justice are investigating this

practice to determine whether it violates insider trading laws. >> listen to the last part of what he said just there, to determine whether or not it violates insider trading laws. sue, we know that you can trade faster than the speed of human thought in milliseconds. the question now is going to be can you insider trade faster than the speed of human thought. that is, can you get some information that's market-moving information and then trade on it within milliseconds. that's what the department of justice will look into here. >> absolutely. eamon, thank you. stick around because we have more from eamon right after the break. he will be looking back at tuesday's main event, the big high frequency trading debate, to see who was telling the whole truth and nothing but the truth. plus, dominic chu went to see how students learn the art of the high frequency trade. >> it's blowing my mind right now just how many of you guys have actually worked for or are going to work for goldman sachs. one, two, three, four, five.

>> this place has a practice trading floor and a whole lot more. we will take you there coming up next. take a closer look at your fidelity green line and you'll see just how much it has to offer, especially if you're thinking of moving an old 401(k) to a fidelity ira. it gives you a wide range of investment options... and the free help you need to make sure your investments fit your goals -- and what you're really investing for. tap into the full power of your fidelity green line. call today and we'll make it easy to move that old 401(k) to a fidelity rollover ira.

i'm taking off, but, uh, don't worry. i'm gonna leave the tv on for you. and if anything happens, don't forget about the new xfinity my account app. you can troubleshoot technical issues here. if you make an appointment, you can check out the status here. you can pay the bill, too. but don't worry about that right now. okay. how do i look? ♪ thanks. [ male announcer ] troubleshoot, manage appointments, and bill pay from your phone. introducing the xfinity my account app. the great debate on high speed trading, the brawl that stopped trading here on the floor of the nyse earlier this week. you saw it right here on "power lunch." a lot of accusations were flying around between michael lewis,

brad katsuyama of iex and bill o'brien of bats. eamon javers, back fact checking some of those big claims. eamon? >> reporter: yeah, the dust is still settling from the great hft debate on "power lunch" earlier this week. let me play you two chunks of this debate that have both sides going back to play a little factual cleanup. let's start with the first chunk here, i will play this and then tell you what the facts are. take a look. >> my question to bill if he's launching these accusations -- >> i'm launching accusations. >> what market data do you use to price trades? >> we use direct feeds and the sip in combination. >> no, i asked you a question. not what you use to route. what do you use to price trades in your matching engine on direct edge? >> we use direct feeds. >> no. >> yes, we do. you use the same data we do. >> absolutely not. you guys use the sip to price trades. >> that is not true. >> now, look, this is an important issue because the sip is the slower, allegedly slower

feed. if they use that, that would allow in theory high frequency traders to come in and poach some trades. now bats going back and cleaning up this comment from earlier in the week. here's what they're saying now. with respect to the matching engine, edge a and edge x currently use the sip but will be transitioning to direct feeds from all major exchanges in january 2015. so that statement on our air earlier this week, not exactly correct. let me play you another chunk here, another debate point in action. take a listen to this. >> we are not even a broker. >> you are a broker. you run -- are you a broker dealer? are you a broker dealer? are you a broker dealer? it's a yes or no question. you are a broker dealer. >> let me just ask the question. [ speaking simultaneously ]

>> reporter: that's the debate. is iex a broker dealer or not? they say yes, in fact they are a broker dealer as is required of them. here's iex's statement to explain why brad seemingly misspoke during that segment. they say mr. katsuyama's statements during his recent appearance reflect iex's business model as a market operator. this statement was made in response to the statement that iex is positioning itself as an intermediary, an assertion which clearly does not represent our role as a market operator. they are not trading against their customers but are in fact a broker dealer. if that makes anything clearer. back to you. >> it docies illustrate the movg parts in this particular debate and discussion. the intermediaries, the broker dealers, the dark pools. >> reporter: it's complicated and very emotional.

that's what we're seeing. >> i think it will continue to be emotional. thank you very much. appreciate it. let's continue this discussion because there are dark pools, algorithms, coding, man and machine all working in milliseconds. how does it all come together? dominic chu took is inside the lab for future traders. >> here on the banks of the hudson river in hoboken, new jersey, right across from the financial capital of the world lies stevens institute of technology which is home to one of the most advanced wall street training programs in the world. students at stevens institute of technology are getting to use the latest and greatest in financial and markets technology. all in an effort to prepare as much as possible for a future on wall street. >> this floor here, this facility, is built to duplicate what they will find when they get on the trading floor at goldman sachs or jpmorgan. >> how surprising is it that wall street is demanding so much

more technical expertise out of future traders? is it all that surprising to you? >> to me, no. i'm a mathematician. seeing this coming for a long time. >> we expect more and more that trading will be all electronic so it's very important that they have good technological skills. >> there is even demand from students to learn about the business of high frequency trading. >> so there is actually students who choose to go into that field and they represent about 10% to 20% of the students. >> but high frequency trading represents just one small aspect of the curriculum. students get hands-on education across all aspects of finance. >> i'm conducting due diligence on american express -- >> what i'm looking at are the xbr filings for g.e. -- >> we are building a trading algorithm. >> the training money spent translates into getting a job. it's blowing my mind right now just how many of you guys have actually worked for or are going

to work for goldman sachs. one, two, three, four, five. so five of you guys in this room have or are going to work for goldman sachs. >> very, very interesting. dom, those are some scary smart kids. >> it blew my mind, first of all, they are all students right now. only a handful are graduating. but as students, it was always so competitive, when i was growing up in the business, to get a job and internship at a bank. i never had one before i went to wall street. these guys seem to be lining themselves up for all these internships at places like black rock, jpmorgan, hedge funds. a few students said they worked both internationally and here at home. >> but you know, it goes to the fact if high speed trading is going to be part of your bread and butter at a firm, you want the youngest, most nimble and best educated people to be in your firm. >> you are sending them out around the world. increasingly, they are less

focused on what's happening here on the american market because of the way in which we are pricing at the moment and sending them abroad, to emerging markets and into other areas. if you look at how advertising is traded, it is increasingly going to be automated in that way and arguably we will need the same skills to capitalize on it. this is the future of the world, like it or not. >> absolutely. nicely done. it's all about tech. absolutely. dominic chu, get back to the market flash desk. >> i'm going right now. >> simon, down to you. ahead, the ipo surge and indeed, iran's oil export surge. seema mody and michelle caruso-cabrera on those big stories. seema? >> the ipo mania continues all for ipos that opened for trade today. they're trading much higher than their offer price but does a big first day mean it's a good stock to invest in? and iran exported nearly a million and a half barrels of oil per day in february. the white house said it would never be more than one million. that's up with that?

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tdd#: 1-888-648-6021 call 1-888-648-6021 to learn more. tdd#: 1-888-648-6021 so you can take charge tdd#: 1-888-648-6021 of your trading. welcome back to "power lunch." a terrific day for the ipos today, despite the downward trend, the red in the overall markets. four companies are making successful debuts on wall street today. we will start with grubb hub, rising as much as 57%, after 7.4 million shares were priced at $26 a share. the online food delivery company, you can see there, currently trading up 40%. also, ims holdings moving higher, the health care information company priced 65

million shares at $20 a share. you can see they are up about 13%. after the cloud-based software provider for call centers offered ten million shares at $7, you can see there, up 17%. o-power, provider of cloud based power to the utility industry, priced 6.1 million shares at $19, up 21%. sue? >> just an example of what a great ipo year it's been so far. so seema is here to tell us how the biggest ipos have been performing. a lot of them had big first days. how has it been since? >> that's what seems to be grabbing the attention of traders. the strong demand these ipos are seeing on their first day of trade, 20% is the average first day pop for newly listed companies this year, which, according to renaissance capital, is the highest since the dot-com bubble burst. it's important to note a big first day doesn't always mean the momentum will continue. in fact, biotech company is a

small cap, and other ipos with big pops on their first day, castlight, ultragenyx down but trading above their ipo price. four ipos are trading below their offer price. we talk about king digital a lot. out of the 71 companies that have gone public this year, three quarters are trading above their ipo price and here's what's interesting. despite a volatile market, the ipo deal flow continues to remain strong. laquinta holdings and others all expected to price next week so the deal flow continues. >> there is obviously demand out there for that. >> exactly. >> thanks very much. simon? >> speaking of demand, the view

seems to be that perhaps the employment report wasn't as aggressively positive as some have expected and therefore, there is that possibility that the fed will be dovish for longer since 1303 is where we trade. copper and platinum lower. worst day for the nasdaq in two months. the nasdaq 100 is literally a sea of red. sheila dharmarajan is following the big movers. >> well, we are making a bit of a comeback at the nasdaq. we have bounced off the session lows but we are still down more than 2% on the day and seeing a broad-based selloff. the range of trade we have seen today is interesting. about 3% across the session so far, about 136 points. a lot of movement happening here. as i said, 90% of the nasdaq 100 in the red right now. all the names we have been talking about, biotech names, momentum names, large cap tech names, are in the red. it's almost more interesting to see what is in the green right now because that itself is very telling of what's being bought here. companies like kraft, bed bath and beyond, staples, decidedly

nontech, non-biotech, non-high flying companies, that's where the focus is today. traders are telling me that look, cash isn't a bad position to be in. they are starting to take that risk off the table. let's not forget, it is the employment report day. let's check on fixed income in the wake of the non-farm payrolls. rick? >> it's amazing, if you look at where the markets line up for the week, threes, fives, they are all down on the week. tens are unchanged. 30s are the ones that are higher on the week. they are all down on the day. that's because of the yield curve. look at fives versus 30s. you see on the near term chart the curve is steepened today. that makes sense. it's reverting to the mean a bit. if you open it up, you can clearly see it's just the beginning. if we look at what's going on with the euro versus the dollar, this is a two week chart, definitely drifting lower and a combination of the weakening or strengthening of the dollar against the euro and the yen gives you the next chart.

dollar index going back to october. lo and behold it looks like this could rally a bit. sue, back to you. have a great weekend. >> you, too, rick. thanks so much. appreciate it. let's take a look at iran which is seeing its oil exports surge. are u.s. oil sanctions failing? our chief international correspondent michelle caruso-cabrera is here to take a closer look. the numbers are different than what the white house said. >> let's show people the numbers. data shows iran sold nearly 1.5 million barrels of oil in the month of february, far above the one to 1.1 million the administration said iran would be limited to when the u.s. slightly eased sanctions on the country while negotiating a potential deal to end its nuclear program. let's show you some charts. based on customs data compiled by a research firm in washington, this is the last four months of iranian oil exports. it's got a steady climb. back in october before word got out the negotiations would begin, iran's exports had fallen to less than 800,000 barrels per day. in february, now roughly 1.47

million. here's more than a year's worth of data. yes, there is some seasonality, some peaks and valleys, but the levels of exports back to levels not seen since december of 2012. who is buying more? china. there are six countries still permitted to buy oil from iran but the administration says during this negotiation period through july, they are not supposed to buy more than their six-month average. if you look at the 15 months worth of data for china, they had better be buying a lot less from iran in the next two months or they will be in violation. india is also one of the six countries. let's go through the next charts. we see a big spike in the last two months as well and you can really see it on the 15 month chart where it's really apparent. so what's going on? nat kearn says he thinks the state department isn't focused on this like it should be. >> there has been a little lax enforcement. there has been a lack of attention. to some degree during the past couple months, as this trend

began, the administration denied that there was any trend and just called it simple fluctuations. >> the administration says it's not true that they are being lax. they still say it's seasonal and the next two months will show declines and they also say that some of this data includes condensates which there is a debate about whether or not they should be included. it's a type of oil product that iran is depending on who you ask, allowed to sell. >> the devil is always in the details. michelle, thank you so much. simon? >> ahead on the show, mets player daniel murphy criticized for taking paternity leave. should he have played? and the ceo of mozilla stepping down amid a firestorm. should ceos be neutral and keep their political views to themselves? how does it impact the companies they command? [ female announcer ] who are we?

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welcome back to "power lunch." talk about a reversal of trends here. check out the ishares nasdaq biotech etf. it's down 16% over the last month but over the past year, one of the market momentum leaders, up about 40% during that time. as for individual biotech names,

alexian pharmaceuticals down 18% but up 44% over the past year. it doesn't get much starker than that with regard to a momentum stock trade. simon? >> that's great context. thank you very much. so stocks losing steam following the jobs report here at post nine. bob pisani and kenny polcari, a cnbc market analyst. how serious is this. >> i think it tells you exactly where we're going. people getting more concerned about what the future is going to look like and taking the money off of there and getting ready to put it back into the larger names. is it really serious? are we talking about a big correction? no. i think we're still in the 5% to 8% correction. it's very normal. it's not panicky at all by any stretch. it is friday. we are going into the weekend so it makes perfect sense. we tested the highs, the non-farm payroll number came where they thought it was going to come. no news. >> can i challenge you on what you said earlier about the employment report.

i actually think that a lot of people thought there would be snap back and it would be a lot higher. i think this employment report disappoints a lot of people. >> the revisions were very good. i agree with your point. it's good enough to get the fed to continue to taper but not enough to show a lot of acceleration. frankly, that's what a lot of people are saying the problem with today is and why there is selling into it. that may be true. i think it's interesting that the broader market has been drifting south. it's one thing to say the leadership has been weak, airlines are weak and biotech are weak. the broader market starts drifting south, that's a sign that they are sort of losing confidence in the current state of the market. yesterday we had an intraday high on the s&p, it was the worst intraday high i have ever seen in my whole life. >> what does that mean? >> we ended up down two to one declining to advancing stocks. you hit a historic high on the s&p and the thing goes -- >> should have been much more excitement. there should have been this surge, right? >> you know what you need, kenny? you need a weekend. you need a weekend. >> there wasn't a surge.

>> kenny hits an intraday high every day. >> we have to wrap it up. have a good weekend. sue? coming up, new york mets second baseman dan murphy under fire for taking paternity leave. should he have played? we will talk about that. and should ceos keep their personal and political beliefs out of the corner office? and the real read on jobs in america. ♪ [ male announcer ] when fixed income experts... ♪ ...work with equity experts... ♪ ...who work with regional experts... ♪ ...who work with portfolio management experts, that's when expertise happens. mfs. because there is no expertise without collaboration.

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mark newton at gray wolf just tweeted out that this is an important support level for the russell 2,000. we will keep an eye on that. back to you. >> absolutely. especially right at close. thank you. time for the power rundown. joining us from washington, mark morial, ceo of the national urban league and former mayor of new orleans. in naples, florida, joe watkins, former white house aide. let's begin with the jobs report, gentlemen. the nation's employers adding a smaller than expected 192,000 jobs in march. the unemployment rate sticking at 6.7%. manufacturing, the only sector to lose jobs. in today's yahoo! finance question of the day, we asked if you think the economy can grow without manufacturing. 10% say yes, it's a new world. 75% say no, we need to save those jobs. 14% say maybe in the long run, but we need them for short term growth. so mayor, i will start with you. what are your thoughts on the report today? we did get some upward revisions but a lot of people thought we

should crack that 200,000 mark to show really sizeable improvement in the jobs picture. >> look, the economy is still in suspended animation. we have job creation. we don't get to the 225,000 jobs per month we really need to move the economy back to where it was in terms of employment in pre-recession levels. i'm deeply concerned about this prospect of long term unemployment. we've got more long term unemployed than at any time since world war ii. this continues to be a problem, which is why continued stimulation of the economy is needed. >> joe, i would assume that you agree that we certainly need to do more for the jobs picture, but did you see the glass half empty or half full when this report came out this morning? >> well, the market doesn't seem to be terribly disturbed by it. i think that for the most part we could be doing a lot better than we are doing. republicans have a jobs bill now on the table that senate democrats are likely to reject and this is one of the reasons why republicans believe that we have a chance to take control of

the senate in november. at the end of the day, i agree with mark, long term unemployment is still disastrous. 2.9 million people you know, since pre-recession numbers, that is to say, and then you have to look as well at the rate of unemployment for african americans. while it may be 6.7%, it went from 12% to 12.4% for african-americans. mark knows something about that because of that great report released every year called the state of black america. >> let's move on to mozilla's ceo. he stepped down as the company's chief after about a week after taking that position. there was a big backlash over his personal beliefs on gay marriage. joe, let me start with you. do you think ceos should stay neutral when it comes to social issues? >> i think that for the most part, ceos should know that what they think, especially what they think publicly, can impact their business. so for that reason, ceos of

companies ought to be very thoughtful about what they say about what they truly think on social issues. if i were him, i would have kept it to myself or i would have found another way to provide money to an organization rather than let it be seen so plainly that i stood on the side that i did. every ceo ought to be very concerned about letting their private opinions be known publicly. >> is it -- >> on social matters, that is. >> mayor, is it also a function to a certain extent of the type of company that mozilla is, it's more of a community sort of company and so perhaps that changes the conversation a little bit, or perhaps not. >> let's be honest. ceos are intimately involved in the debate around public policy. look at the lobbying operations that exist in washington, d.c. and in the nation's capital. i think ceos have a responsibility to be intimately

involved in the issues that concern their employees, concern their customers, and that affect the very communities in which they live and work and the companies live and work. certainly there's got to be thought, there's got to be due care about what you speak out on. but the response to sort of hide and duck and dodge is not what responsible leaders do. >> lastly, we want to talk about men in the workplace, specifically fathers. mets second baseman dan murphy was criticized for missing the first two games of the season for the birth of his first child. should men take paternity leave and does it matter whether you are a baseball player or an executive in a company? i have to admit i try to stay neutral, but -- >> i feel very strongly about this. men must and should take paternity leave if they want. i think they should be there when their wives have a child. >> they are only born once.

>> this is really an unfortunate statement for boomer esiason to make. >> he's apologized. >> yes, he has. >> collectively bargained opportunity of mr. murphy to basically take paternity leave. we should encourage it. but absolutely, it's his choice. it's his choice. >> joe, i have one minute left. i think he was perfectly right to take paternity leave. that baby is only born once. your family is with you forever. baseball isn't always with you forever. >> congratulations. >> yes, congratulations. go ahead. >> i'm with that 100%. i'm a married man and i was there for the birth of all three of my children. i like what murphy did. i like the statement he made by doing it. i support it. >> terrific, gentlemen. nice note to end on. thank you so much. >> thank you. >> appreciate it. good to see you again. simon? >> sue, ahead on the show, where are the jobs in this country? mary thompson knows. she's in houston. mary? >> reporter: hey, simon.

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even as the job market improves, many companies can't find the skilled workers they need as part of our continuing series on where the jobs are, we head now to houston, where national oil well varco have training in-house in order to build its own pipeline of talent. mary johnson joins us live to explain. i'm glad you stopped moving, mary. >> reporter: it was a little nervewracking. i'm here at one of national oil well varco or n.o.v.'s six technical colleges. behind me, you can see there's a class going on in height training. why height training? a couple years ago, one of the program's graduates was climbing around on a rig and froze. he basically couldn't solve the problem he was sent out to fix. now all these service technicians in training get a little hands-on experience with height. of course, depending on their comfort with height, this could be one of the easiest classes they take over six to 12 months. most of their time here is spent in the classroom learning

hydraulics or mechanics or in a simulator to better understand the multi million dollar drilling systems n.o.v. sells to its clients who are drilling deeper and farther out in the water to find oil. >> in order to go after this oil in these locations, we have to have more sophisticated equipment. the equipment is more complex and it requires more knowledge for the service people, for the engineers that have to go out and repair it. >> reporter: paul gunderson is an instructor at the houston-based school. the first one n.o.v. opened seven years ago. the company launched its technical colleges looking to solve a chronic shortage of technicians who can install, service and repair its clients' rigs. the firm spends $50 million a year on training and this year will add 450 new service technicians to its 64,000 person work force. the trainees get paid to be in the classroom and get a raise once they head into the field. here is the ceo clay williams. >> we typically start them in

the 50,000 to 60,000 per year range and then after they leave the tech colleges and move out into the work force at n.o.v., their total compensation can approach six figures. >> reporter: as you can imagine, with the energy industry growing the way they are, these trainees are in high demand so basically to protect its investment, n.o.v. makes them sign a three-year pact to stay with the company. if they leave before that period, they have to pay the company back the roughly $70,000 it spends training those workers. simon, back to you. >> fascinating. thank you very much. mary thompson there in houston. the biggest winners in today's trading, next. first, let's see what's coming up on "street signs." >> yeah, it's friday. but the market, particularly the nasdaq, is behaving like it's got a bad case of the mondays. we will try to get to the bottom of what's going on. and we look into two completely different worlds. one where our guests have tried to get by from job to job and

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welcome back to "power lunch." another momentum stock hitting the skids today is facebook. down about 4% on the day, near session lows since hitting an all time high of $72.59 back on march 11th. it's lost about a fifth of its value but check out what it's done over the past year. it's a double, a more than double so it's all about timing for certain investors. simon? >> kind of the eye of the storm. let's have a look where we are at the markets overall. big day obviously for the nasdaq with the losses we've had there. we shot below the 50 day moving average and the losses have extended. that's where we stand at the moment. notice that the transports are also falling heavily. if you wanted winners, cliff natural and peabody are doing well but obviously, the bulk of the market is to the downside. let's have a look at the bottom of the nasdaq. there you go. trip advisor, nxp, alexeion biotech, semiconductors and a lot of online travel agencies in negative territory but those

have done well in the main. >> they have. it's interesting, the losses in the dow approaching triple digits a digits. it's been a pleasure, simon. >> always a pleasure. that's all for "power lunch" heading into the weekend. >> have a good weekend, everyone. "street signs" begins right now. have you had enough of ipos, hft or any other acronym yet? sorry if you have because we have more for you, particularly on ipos. also, the kids are all right or are they? the tale of two millenials. and herb's biggest blunders penned by none other than herb himself. >> you are a vip and that's a-okay. i want to throw that out there. friday quickly becoming a tech wreck. whatever happened to boring fridays? not for the nasdaq. you just heard sue and simon talking about it.